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November 24, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Fine Arts Schools Loan | ||||
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Wells Fargo Bank
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Wells Fargo Bank SBA Loan to Fine Arts Schools CompanyWells Fargo Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Utah entrepreneur who tapped into the power of SBA loans. This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Wells Fargo Bank, out of San Jose, California. The loan was granted and they received $173,600 to help grow their Salt Lake City, Utah business. SBA Loan Borrower COMPANY TYPE: FINE ARTS SCHOOLS SBA Loan Lender WELLS FARGO BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 611610 - Fine Arts Schools Loan Approval Date 11/8/2006 Loan Approval Gross Amount $173,600 Loan Approval from the SBA Of the total $173,600 loan amount, the SBA guaranteed $130,200. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Advice on Getting a Small Business Loan SBA 7A Banks for San Jose, California Loans Getting an SBA Loan in California
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